An investment project will produce earnings before depreciation and taxes by $25,000 per year for 3 years. The project's cost is $55,000. First year depreciation is 18,150 and the company's tax rate is 24%. What is the cash flow from the project in year 1? Select one: O a. $23,356 O b. $15,100 O c. $22,671 O d. $16,667 A firm is considering the replacement of an old machine with one that has a purchase price of $70,000. The current market value of the old machine is $18,000 but the net book value is $32,000. The firm's tax rate is 35%. What is the net cash outflow for the new machine after considering the sale of the old machine? Select one: a. $47,800 b. $38,000 c. $45,000 d. $47.100